PROFITABLE TREND FOREX SYSTEM

DOES PROFITABLE TREND FOREX SYSTEM REALLY WORK?
Excellent Question. “Profitable Trend Forex System” (from trendforexsystem.com) is another Forex Indicator Program designed by Forex Expert John Chen, which I came across as an affiliate to Clickbank or Paydotcom a while back (can’t even remember which), before I even acquired this site. I own a few other sites and would gladly turn others on this product on to other people if and only if it works. Therefore, this review does not include my affiliate link, it doesn’t involve me getting paid to say good things about the program, this is as unbiased as it gets. That being said, Profitable Trend Forex System, in my opinion can be useful to those who can read directions properly and have a basic understanding of moving averages and MACD, (knowledge on MACD DIVERGENCE can come in handy here too). This is another system that seems like it promises you alot more than you get, but you will be impressed even at first glance at the patterns that emerge on your charts after you load these indicators. John Chen also provides you with info that can be useful to a beginner and novice level Forex trader(s), much like myself. Like usual, I test out all indicators on a demo account for a few weeks before committing real money to it, so I haven’t technically made money with or lost money because of this indicator.

What to expect with PROFITABLE TREND FOREX SYSTEM
Profitable Trend Forex system is another pay Forex indicator program that made me think there would be some sort of special indicator that pops up showing you where to exit or enter. Don’t be fooled, this is will require you to find trends, entries, and exits yourself, but that is not a big issue after you set everything up and study some charts with it AND read John’s thorough explanations on how to do so.

Specifically it comes with a few different “Custom Indicators” all for Meta Trader 4 which are to be put in your c:\program files\metatrader4\experts\indicators\ folder and one template file that goes in your templates folder. I’m not going to say which indicators come with Profitable Trend Forex System exactly, maybe that’s would allow you to circumnavigate purchasing the package, so I will speak in generalities.  Anyway, after reading some charts with PTFS, and reading the manual of course, I quickly see a pattern emerging, especially at the beginning and end of trends.

I shy away from getting too detailed about this, because it will just echo what the manuals this system tells you to do, and I’m pretty sure John Chen wouldn’t be to thrilled by that. John does go into discerning the momentum of the trend and why that is important. The basic principle behind this is the idea that usually if a trend makes new highs in price and in the Short MACD indicator, it still has strength to go up, the same goes for a down trend, except the opposite applies. So, John goes over all this in great detail and shows example after example in his PDF manuals. The longer MACD he has a specific plan of action for us to take, but I also like to look for MACD Divergence, which you could see if you scrolled to the left on my example above: the yellow bars have crossed over from a strong position above the middle line, and turned into weakness. On the shorter term MACD, you can look for quick pullbacks to enter a position or add to your position if you deem the trend to still be going a certain way (you’ll need to read John’s manual for exactly how to do that).

In John Chen’s own words:

Finally, with this powerful system, you’ll no longer trade blindly. You’ll have a framework, a methodology, clear entry and exit rules that allow you to flawlessly execute your trades without stress.

Which is basically true. Keep in mind, if you enter a trend right when there’s a pullback like I pointed out the example above, you might hit your stop loss level and it will be a losing trade, even though the indicator pointed out a winner on a longer time frame. This is just a fact of life when trading Forex, not an indication PROFITABLE TREND FOREX SYSTEM will not work. That being said, you might have the question, where to set your stops? This is where good old Fibonacci, trend channel lines, and basic psychology can help you, but that’s a whole other ball of wax, hopefully you learned that already, if not, then I recommend doing so.

Is Profitable Trend Forex System Worth It?
As a 1+ Year Forex trader myself, even though I make trades with only the help of basic charting programs, those are for quick scalps. PROFITABLE TREND FOREX SYSTEM actually gives me more confidence when hunting for the best place to enter before a trend begins to move, which could result in a huge chunk of pips being earned instead of a few here and there. So, if you are a scalper, you can easily gain a tad more confidence in trying a longer term approach to trading with PTFS.

The READ ME FIRST text file actually has another advertisement to IMPACT FOREX SYSTEM, also by the same author, John Chen. I’m not ready to buy that one at the moment either, I think I spent enough in indicators that promised me the world but haven’t really changed my life in 2007 (not saying that this would be one too, just no more guessing until New Years). That will be my New Years resolution, my first million by 2009, I’m getting there already and I think PTFS could be a good part of my overall plan of attack, at least it’s worth a shot.

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